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Samsung BioLogics faces accounting fraud probe

( March 31, 2017, 05:43 GMT | Insight) -- South Korea's Financial Supervisory Service has decided to launch an investigation of Samsung BioLogics Co over suspected accounting fraud, Yonhap News reports. The company made financial losses every year since it was set up in 2011 but made a net profit of 1.9 trillion won ($1.7 billion) in 2015, a year before it went public. The company was listed in November 2016. The decision to investigate was made after the special prosecutors that investigated former president Park Geun-hye's graft scandal accused the company of accounting irregularities. Prosecutors said the company had received benefits linked to Samsung Group de facto chief Lee Jae-yong's bribery case. ...

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